What is the problem of choice class 11?

Problem of choice refers to the allocation of various scarce resources which have alternative uses that are utilized for the production of various commodities and services in the economy for the satisfaction of unlimited human wants.

Who is first woman President of India?

Chief Justice of India K. G. Balakrishnan administering the oath of office to new President Pratibha Patil. December 19, 1934, is the 12th President of India. She is the first woman and the first Maharashtrian to hold this post.

Who was the first president name of India?

Presidents of India

Name Tenure
Dr Rajendra Prasad (1884-1963) January 26, 1950 – May 13, 1962
Dr Sarvepalli Radhakrishnan (1888-1975) May 13, 1962 – May 13, 1967
Dr Zakir Hussain (1897-1969) May 13, 1967 – May 03, 1969
Varahagiri Venkatagiri (1884-1980) (Acting) May 03, 1969 – July 20, 1969

What is the economic issue?

Economic issues facing the world economy, as well as regions and countries, include prospects for growth, inflation, energy and the environment, inequality, labor issues, emerging markets, and the impact of new technologies.

How do you solve central economic problems?

Answer: Basic problems in Capitalist economies are solved through price mechanism, in Socialist economy through planning and in mixed economy through price mechanism and economic planning. Every economic activity in Capitalist economy is influenced by profit motive

What are the 3 causes of economic problems?

The 3 Main Reasons for the Existence of Economic Problems

  • (i) Scarcity of Resources:
  • (ii) Unlimited Human Wants:
  • (iii) Alternate Uses:

Who is the president of India?

Ram Nath Kovind

What are the central economic problems?

The fundamental economic problem is the issue of scarcity and how best to produce and distribute these scare resources. Scarcity means there is a finite supply of goods and raw materials. Unlimited wants mean that there is no end to the quantity of goods and services people would like to consume.

What are the causes of economic problem?

Causes of Economic Problem

  • Scarcity of Resources- Resources like labor, land, and capital, etc.
  • Unlimited Human Wants- Human beings demands and wants are unlimited and never ends, which means they will never be satisfied.
  • Alternative Uses- Resources being scarce they are put into different uses.

Who was the prime minister in 1991 in India?

List

No. Name Assumed office of Prime Minister
8 Chandra Shekhar 10 November 1990
9 P. V. Narasimha Rao 21 June 1991
10 Atal Bihari Vajpayee 16 May 1996
11 H. D. Deve Gowda 1 June 1996

Who is the president List of India?

What are the central problems of an economy explain with example?

The basic economic activities of life are production, distribution and disposition of goods and services. A society will be facing scarcity of resources during the time of fulfillment of these activities. As such scarcity is evident, due to the availability of limited resources, and human needs having no limit.

Which of the following is an example of economic issue?

Examples of economic problems include How to deal with external costs/pollution, e.g. pollution from production. How to redistribute income to reduce poverty, without causing loss of economic incentives. How to provide public goods (e.g. street-lighting) which are usually not provided in a free market.

Why is the first President of India?

Rajendra Prasad (3 December 1884 – 28 February 1963) was an Indian independence activist, lawyer, scholar and subsequently, the first President of India, in office from 1950 to 1962. He was an Indian political leader and lawyer by training.

Who is first in India?

List of First in India (Male)

First Prime Minister of free India Pt. Jawaharlal Nehru
First President of Indian Republic Dr. Rajendra Prasad
First Indian Pilot J.R.D. Tata
First Indian to win Nobel Prize Rabindranath Tagore
First president of Indian National Congress W.C. Banerjee

Who is our first president?

On April 30, 1789, George Washington, standing on the balcony of Federal Hall on Wall Street in New York, took his oath of office as the first President of the United States.

Who elects the president of India?

President. The President is elected by members of an electoral college consisting of elected members of both Houses of Parliament and Legislative Assemblies of the states in accordance with the system of proportional representation, by means of single transferable vote.